Busting the Myths that Prevent Social Media Strategy Success, Part I

Bigfoot. The Loch Ness Monster. Chupacabra. We all love a good myth—until it starts to affect our bottom line. And while stockholders and customers don’t give a hoot if you believe in mysterious furry woodland creatures, they will care if myths about social media get in the way of building customer loyalty, boosting profits, or creating a better product. Here are four myths about social media strategy that we’re busting here and now:

Myth #1: There’s no ROI in social media.

It’s true that early efforts at social media may not have had access to the analysis tools that conveyed ROI. The fact is, however, that reliable tools allow managers and executives to measure how successful a social engagement campaign might be. From measuring the number of times a brand is mentioned online to measuring sales-producing leads, social media strategy ROI is easier than ever to quantify and analyze.

Myth #2: Social media is a fad.

Social networking tools have become integrated into the way we do so many things, from professional networking to building customer relationships. It seems highly unlikely that social media will go the way of jelly bracelets and Garbage Pail kids. As technology advances, the look and feel of these platforms might change but the willingness to engage in easy and cheap two-way conversation won’t.

Myth #3: Social media doesn’t really require effort.

Just because your 12-year-old nephew can navigate the intricacies of social media doesn’t mean that a company can successfully leverage it as a tool to build brand awareness and generate profit. Just like advertising, public relations, and other core business functions, social media must be taken seriously. So craft a strategy with measurable goals, employ an able staff or invest in an experienced outsource team, and regularly evaluate progress. After all, if you don’t take social media seriously, customers won’t take your brand seriously.

Myth #4: It’s too much work to implement a social media strategy.

In contrast to those who think social media is child’s play, others let their fear of being overwhelmed keep them from social engagement success. Part of the reason is that there are so many channels on which to interact. Which one to choose? Most businesses don’t need a presence on every social networking site, so find the right ones for your brand by investing in a social media monitoring service that pinpoints where your customers are.

Contact Social Strategy1 to learn about finding online listening and social engagement success. But, don’t touch that dial—look for more myths in our next post.